The
New
York
State
Department
of
Financial
Services
(NYDFS)
has
said
it
strengthened
its
guidelines
for
listing
or
de-listing
cryptocurrencies
in
a
move
to
beef
up
protections
for
crypto
investors
throughout
the
state,
NYDFS
Superintendent
Adrienne
A.
Harris
said
Wednesday
in
a
statement.
The
updated
guidelines
will
require
crypto
companies
to
submit
their
coin
listing
and
delisting
policies
for
NYDFS
approval.
The
firms’
policies
will
be
measured
against
more
stringent
risk
assessment
standards
to
ensure
that
de-listings
occur
“in
an
orderly
way
that
protects
consumers
and
minimizes
market
disruption,”
according
to
the
statement.
“This
guidance
continues
the
Department’s
commitment
to
an
innovative
and
data-driven
approach
to
virtual
currency
oversight,
keeping
pace
with
industry
developments,”
Harris
said.
The
new
rules
also
require
companies
to
give
advance
for
token
de-listings
and
to
be
more
transparent
with
their
customers
about
removing
support
for
cryptocurrencies
they
once
listed.
In
addition,
the
companies
must
formulate
their
policies
based
upon
“specific
business
model,
operations,
customers
and
counterparties,
geographies
of
operations,
and
service
providers;
and
to
the
use,
purpose,
and
specific
features
of
coins
being
considered.”
The
NYDFS’
rollout
of
the
revised
guidance
follows
a
feedback
period
that
began
in
September.